The increase in the use of squalene as a chemo-preventive agent is influencing the market growth.
Market Size – USD 166.1 Million in 2018, Market Growth - CAGR of 7.7%, Market Trends – Demand for squalene in the pharmaceutical industry.
NEW YORK, April 24, 2019 (GLOBE NEWSWIRE) -- The global Squalene market is expected to reach USD 309.7 Million by 2026, according to a new report by Reports and Data. This can be mainly contributed by increase in the use of squalene as a chemo-preventive agent.
Growing demand for anti-aging cosmetic creams, as well as the growing demand for squalene in the pharmaceutical industry, is fueling the growth of the market. Rapid urbanization and increasing disposable income in the emerging economies are resulting in the penetration of health supplements and cosmetics. Ingredients in squalene oil are known to enhance the immune system response of an individual. The supplement includes alkylglycerols, which are consumed against cold, viruses, and infections. Many conditions, such as arthritis, asthma, and psoriasis, may also be alleviated by the supplement. Additionally, the macrophages in its oil are promoted for their ability to help wounds heal faster.
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Key participants include Amyris, Sophim, Kishimoto Special Liver Oil, SeaDragon Marine Oil, Nucelis LLC, Ekiz Olive Oil and Soap Inc., Maruha Nichiro Corp., LDA, Empresa Figueirrense de Pesca, and VESTAN, among others.
Moreover, in the cosmetics industry, squalane oil is used against skin-damaging free radicals that contribute to the signs of aging. It balances oil production, providing enough moisture to keep the skin clear, healthy, and free from acne & eczema. The oil even boosts blood circulation, which rejuvenates firmer, plumper, and glowing skin.
However, governments in several countries have banned shark killing, due to which the industry faces difficulty in the availability of raw materials, which may be a hindrance to the market growth.
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Further key findings from the report suggest
- The market is segmented on the basis of source into animal-based, plant-based, and synthetic biotechnology.
- The plant-based segment of the market accounted for the largest market share of ~56% in the year 2018. It is generally derived from olive oil, amaranth oil, wheat germ, and rice bran oil. The easy availability in various regions including North America, Europe, and the Asia Pacific, will fuel the growth of the market in the segment.
- The market is segmented on the basis of the formulation into tablets/capsules, liquid, powder, and softgels.
- The softgels segment accounted for the largest market share of 30% in the year 2018, due to its demand from the food supplements sector. These supplements are highly consumed since the elements in the capsules enhance the immune system response of an individual.
- The market is segmented on the basis of applications into cosmetics, food supplements, and healthcare & pharmaceuticals.
- Food supplements segment is forecasted to witness over 12.0% CAGR during the forecast year. Increasing disposable incomes, coupled with awareness regarding healthy lifestyle will boost the demand for food supplement application.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- The Asia Pacific is forecasted to witness the highest growth rate of 10.2% during the forecast period, owing to booming cosmetics industry in the emerging countries, such as India and China.
- Increasing popularity for dietary supplements due to the rising disposable income, changing lifestyle and growing health awareness will also be a contributing factor for the market in APAC.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2019 to 2026. For the purpose of this study, Reports and Data have segmented the Squalene Market on the basis of source, formulation, application, and region:
Source (Revenue, USD Million; 2016-2026)
- Animal-based
- Plant-based
- Synthetic biotechnology
Formulation (Revenue, USD Million; 2016-2026)
- Tablets or capsules
- Liquid (oil/lotion)
- Powder
- Softgels
Application Outlook (Revenue, USD Million; 2016-2026)
- Cosmetics
- Food supplements
- Healthcare & Pharmaceuticals
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Middle East & Africa
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